Lee v. Travelers' Ins. Co. of Hartford, Conn.

The opinion of the Court was delivered by

Mr. Justice Bonham.

January 18, 1897, the Travelers’ Insurance Company issued to Joseph Lee its policy No. 90668, whereby it insured the life of Joseph Lee in the sum of $1,000.00, with his wife, Eliza H. Lee, as the named beneficiary. The policy was of the character known as a 20-year premium policy; that is to say, at the end of 20 years if the annual premiums have been duly paid, the policy becomes a paid-up one, and the amount of the insurance becomes payable to the named beneficiary upon the death of the insured.

In January, 1922, the company lent…